The Lesson of a Short-Lived Mutiny: The Rise and Fall of Hungary's Controversial Arbitration Regime in Cases Involving National Assets

Abstract

This paper presents and analyzes Hungary’s recent legislative efforts and failure to exclude arbitration in matters involving (Hungarian) national assets, demonstrating the difficulties a country faces if it attempts to defy the prevailing pattern of dispute settlement in international trade. The lesson of the Hungarian saga is that, unsurprisingly, arbitration is not only a ‘take it or leave it’ but even a ‘take it or leave’ rule of the club of international economic relations.

Keywords: Arbitrability, Arbitration, National Assets, Public-Private Arbitration

JEL Classification: K33, K41